Splashing out: Vicky Elliott was set on a new home and bought a two-bed flat in Croydon

Renting with a friend in Stockwell, south London, Vicky Elliott wanted to buy her own home but only brand new would do. ‘I’ve been renting new flats for years and was used to that standard of living,’ Vicky explains. ‘Once I’d saved up my deposit, I started looking at older properties to do up but anything within my price range needed a lot of work. New-build seemed like a sensible option.’

Vicky’s budget was just over £240,000 but new-builds in Stockwell cost around £400,000. ‘I realised I had to extend my search further out,’ Vicky says. ‘Croydon came on to the radar as it has great transport links into central London.’

Last December Vicky went to see Barratt London’s New South Quarter in Croydon and immediately reserved a two-bed apartment. ‘I put down a fee of £1,000, which meant no one else could take the property and the price was fixed.’

Vicky bought off-plan before her flat was built. In May she moved in and immediately set about transforming the white walls. ‘I wanted to bring some colour in,’ she explains, ‘so my lounge has purple curtains and my kitchen has green splashback tiling.’

Compared with pricey rentals, Vicky thinks buying is good value. ‘My mortgage repayments are £1,000 per month plus £120 for service charge, ground rent and concierge,’ says Vicky, who appreciates the flat’s ‘green’ measures such as the energy-saving filter on the shower. ‘This will benefit me cost-wise in the future and in the next few months I’ll start looking for a flatmate, which will also help me out.’

Vicky paid £7,500 extra for a parking space but it’s an easy commute into work in Tottenham Court Road. ‘I walk ten minutes to Wandle Park tram station, take a ten-minute train to East Croydon and travel straight into London – it’s an hour door to door.’

Two-bedders now sell for £280,000 – parking spaces are £10,000 – so Vicky is happy she bought when she did. ‘All in all it’s definitely been a worthwhile investment,’ she says.

Palladian Court, Croydon

The Lowdown
Studios and one-bedroom apartments have just been released at Palladian Court, the latest phase at New South Quarter. Many balconies and terraces have river views and there’s an on-site café and nursery.From £182,000, barrattlondon.com